Dollar down ahead of US trade data

The US Dollar moved down in a technical range on Friday ahead of US monthly trade balance data. The OECD (Organisation for Economic Co-operation and Development) Leading Indicator showed a decline in major developed economic regions in February.
The OECD Leading Indicator for US Economy in February declined to 103.1 suggesting that the growth in the world's biggest economy would slow down in latter half of this year.
In other developments, crude oil prices declined further with brent crude declining more than 8% to USD 51.79 per barrel from its intra week high levels of USD 56.01.

Outlook for the day
EUR/USD - Euro is testing the resistance near 1.2950 levels with support at 1.2875. Single Currency is expected to trade in 1.2875-1.2975 range.
GBP/USD GBP is testing the resistance at 1.8850. A successful break would lead to 1.8950 with support at 1.8775. It is expected to trade in 1.8775-1.8875 range.
USD/JPY Dollar is still holding its gains against Japanese currency. The pair continues to face resistance in 108.75-109 area. Expected range today is 107.75-108.75.